Summary
A small group of Missouri state senators stymied a move in their last session to put a bond issue before voters next spring to fund about $800 million in badly needed buildings for higher education and other public programs.
Promoters, led by House sponsor Chris Kelly and Kurt Schaefer in the Senate, pointed out repeatedly that federal economic stimulus incentives made this a golden moment for such public borrowing. The House overwhelmingly passed the resolution, but two or three conservative believers in the Senate said the state should not take on another dollar of debt and threatened to kill the deal with a filibuster. The rule giving such power to individual members enforces the idea the Senate is a place where legislation goes to die, a curious but cherished tradition bound to live on.See the full content of this document
Extract
Golden Moment ; Time for Public Borrowing
But the moment is indeed right for public borrowing, not only for statewide initiatives but for local projects as well. The federal stimu...
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